Recommind Secures Funding For Acquisitions, Continued Global Expansion

Access to Capital Will Help Company Accelerate Global Sales Growth, Implement Acquisition Strategy

SAN FRANCISCO, CA - OCTOBER 7, 2008 – Recommind, a leading provider of enterprise search, email management and eDiscovery systems for enterprises, today announced that it has secured the first institutional funding in the company's history. Kennet Partners, a global investment firm focused exclusively on mid-stage, high-growth companies in strategically critical markets, led the round. Experiencing dramatic growth across all product lines and geographies, Recommind is tapping into private equity in order to quickly ramp its global operations and acquire additional product and market breadth through acquisition.

"We are very proud of Recommind's track record of strong, organic growth and profitability over these past 7 years. Our high-growth rate is a testament to the dedication, focus and capabilities of our employees – not to mention the strong support of our customers. But with the tremendous demand we have experienced, which has only accelerated with the recent financial market crisis, access to significant capital will be a key ingredient of our ability to fulfill exploding demand organically and through acquisitions going forward," said Robert Tennant, CEO, Recommind. "With a successful track record of investing in well-established, strategically positioned companies experiencing significant growth, Kennet Partners is an ideal partner that shares our vision of making Recommind the leading provider of information risk management solutions to enterprises."

"At Kennet Partners, we focus on well run, capital efficient companies with strong franchises that have shown a consistent track record of sustained revenue growth. Recommind is directly in our sweet spot and we are pleased to be the first institutional investors in the company," said Eric Filipek, Principal at Kennet Partners. "Recommind is following a similar path taken by some of the most successful technology companies to date by becoming a key supplier of strategically critical technology to a rapidly expanding vertical industry. The skill sets required to build and maintain an extremely loyal customer base in legal technology positions the business perfectly to deliver best-of-breed solutions to the broader and rapidly changing document management market. We are excited to be a part of what is a tremendous success story that continues to gain momentum, even in turbulent times such as these."

Recommind's solutions enable Fortune 500 enterprises and professional services firms to organize, access and analyze data and expertise across the organization to maximize the value of enterprise information while efficiently mitigating the risks associated with litigation, regulatory compliance and investigations.

About Kennet Partners
Kennet Partners is a leading international private equity firm that invests in growth companies in Europe and North America. Kennet invests in the technology and technology-enabled business services sectors, offering expansion capital to businesses that want to accelerate growth and build exceptional shareholder value in partnership with an experienced investor. Kennet Partners has over $600 million under management and acts as an advisor to Kennet II and Kennet III, both Guernsey-based funds.

Kennet Partners Limited is authorized and regulated by the Financial Services Authority. For more information: www.kennet.com

About Recommind
Recommind's enterprise search and categorization platform automatically organizes, manages, and distributes large volumes of information from multiple sources. With faster access to the right information, organizations can save time, enhance the quality of work product, increase the value of information assets, and improve competitiveness and profits. Recommind customers include Bertelsmann, BMW, DLA Piper, Novartis, Lewis Silkin, Shearman & Sterling and Simmons & Simmons. Recommind is headquartered in San Francisco and has offices in New York, Boston, Chicago, Atlanta, Washington DC, London, and Bonn, Germany.